https://www.taxtmi.com/caselaws?id=463540 Reassessment under section 147 may be sustained where the Assessing Officer has specific information indicating possible escapement of income from an alleged unexplained investment. On merits, an addition relating to investment in immovable property may fail if the assessee credibly explains the source through repayment of an advance received under an unregistered agreement to sell. An unregistered agreement is not automatically incapable of being relied upon for the limited purpose of explaining funds, especially where it is shown to have been acted upon and supported by sale deeds or related documents. The principle emphasized is that reopening and merits are separate questions, and the evidentiary value of the agreement depends on the surrounding material. en-us Thu, 20 Feb 2025 00:00:00 +0530 Thu, 04 Sep 2025 17:53:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463540 Reassessment under section 147 may be sustained where the Assessing Officer has specific information indicating possible escapement of income from an alleged unexplained investment. On merits, an addition relating to investment in immovable property may fail if the assessee credibly explains the source through repayment of an advance received under an unregistered agreement to sell. An unregistered agreement is not automatically incapable of being relied upon for the limited purpose of explaining funds, especially where it is shown to have been acted upon and supported by sale deeds or related documents. The principle emphasized is that reopening and merits are separate questions, and the evidentiary value of the agreement depends on the surrounding material. Case-Laws Income Tax Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463540